WORLD WOOL PROSPECTS.

Press, Volume LXVII, Issue 20176, 3 March 1931, Page 10

WORLD WOOL PROSPECTS.

LAN AMERICAN REVIEW.. (wioit ova ovr» cobsxspondkxs.) . SAN FBANOISCO, February 5. Some interesting statistics were promulgated in, t£e course of a comp'rehensive, review jsstiiisd by the United States o£ Agriculture, through its •. «<? onomi, ? s ' relaMVf'rto prospects, a bating: throughout < vWith'' poof Tdpihestitf pricey at BoWta. therefore,did,not-;reflect the jnore flin*; Australian trices' in early November, but" edntinucrd ti weaken gradually, ;ah£, hare- befen* fprthey depressed.-.following; the ,de6iytes iat-ths saiea Ndyejaber . ,# rß t , p.t. December.., prices' I, in jerpssbreds which, a?' of the'/aeries; • -WithrcW Zealand wools w«o ' nt, ,tae..Eflpdpn wlee r^^oted 1 in; tW J pfam^y cahtieus, 1 prices S W wheivthe salM closed- for the yea* on ing, : Mt buyera were operating more Vilely. ;In' New Zealand Sellers refused to--weeV'theV'market, at the prevailing /low" prices', and ; large ; quantities -were ! withdrawn. ' Conipetitlon "was keener 'than, had been and the.price .of ' tsronsbwdi showed .a flnner-iendency at 'tfce !closing' sales ''for H December. W'tfe'Wron''of .eolith Africa have 'oiovfed 'to those in Australiai. and' sellers 'have' now resolved to a«le9 '»nd to use aU efforts to at' prices below a certain ftt«mdard.

! Prices Weakened. • *"the Bradford' Wool iQVKbt H inactive, and price* have weakened/in sympathy with the weakness in primary mbrketff. On the Continent prices or wool, tops and yarns fell materially from early November until the latter part of Ifeceipber. Import# of raw woid in October were nearly twice -as large as last year in' Germany, and were nearly 20 per cent.,.larger in France, but were below last year in l Belgium. The amount of' wool, tops and yarns passing through conditioning houses in UVance during' November, showed the usual seasonal declines, and is materi-1 ally beiow last year. , ' - I ''Wool consumption• and machinery | activity in the United States increased j in" October for the second consecutive j month, the inctease in consumption | frojn August to October being greater] than the' normal Seasonal increase for thfet period. Imports of all classes of j wools are still very small. There has been a material increase id the margin | of domestic" over'foreign prices in rer | cent months, however, and a further increase, if maintained, qould expected to bririg ,in..larger importkj but it is doubtful that a much' wider, margin will be maintained. "An estimate on preliminary estimates of carry-over production and exports indicates that thq amount of wool awaiting disposal in the five "principal Southern , Hemisphere countries approximately the same as that held on November Ist of last yew, hut two per cent, losjs than that of November Ist, 1928, There have been no changes since last month's issue in the estimates of production in the principal wool-producing countries. The total production in countries producing about foUr-ftfths of the world's total is estimated to be,about one peri cent, above last year's' production, due | principally to the increase in the United States. StoCkjs of foreign and colonial i wool in the United Kingdom on November Ist wsre unofficially esti~matdd to be 18 percent. above the stpeks held on November Ist, 1929, and 10 l .per cent, above the November,-Ist average for the past four years," Concern? merchandising products,at eood quality can develop the unnhratieled sates opportunities in Can■tprbuty roost effectively and. moat i economically through th» advertising ppfrftnpji d I** Psittu * *~*®

The raising of a loan of £202,000 in London on behalf of the Auckland City I Council' has-.been postponed until "the 1 market is more favourable.'' It was I reported at a meeting of the City CounI cil that the Bank of New Zealand had I intimated that "owing"to alterations 'in exchange and the consequent fall in the price of New Zealand stocks, the market is not now prepared to underwrite issues at 98i and would like the issue postponed for the time being; The' announcement was made in reply to the City Council's resolution approving an offer if the loan could be raised at' 99. The, town clerk, Mr J. S. BrigJiam, said .the bank bad requested. v its London' office to .advise as soon as the piarket was' more favourable. < ' " r 1 1 >